Tag: credit and banking in rural areas

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Questions Related to credit and banking in rural areas

Multiple choice social science rural development in india credit and banking in rural areas rural activities credit

Which of the following schemes was redesigned and restructured into National Livelihood Mission (NLM)?

  1. National Rural Employment Guarantee Scheme

  2. National Food for Work Programme

  3. Swarnjayanthi Gram Swarozgar Yojana(SGSY)

  4. Jawahar Rozgar Yojana
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Swarnjayanthi Gram Swarozgar Yojana (SGSY) was restructured into the National Rural Livelihood Mission (NRLM) in 2011 to provide a more comprehensive approach to rural poverty alleviation.

Multiple choice social science rural development in india credit and banking in rural areas rural activities credit

As per the reports published in various journals and newspapers, the ''small borrowers" in rural areas still prefer to take informal route for their credit needs. Which of the following is the "informal route" of credit in the financial sector?

  1. Credit cards

  2. Loan against gold from financial institute

  3. Debit cards

  4. Moneylender
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Informal credit routes in rural areas consist of non-institutional lenders such as moneylenders, landlords, traders, and relatives, who operate outside the formal banking regulatory framework.

Multiple choice social science rural development in india credit and banking in rural areas rural activities credit

Which of the following products launched by most of the banks helps farmers in getting instant credit for various agricultural purposes?

  1. Kisan Credit Card

  2. Personal Loan

  3. Business loan

  4. ATM Card
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Kisan Credit Card (KCC) is specifically designed to provide farmers with flexible and instant credit for agricultural inputs and other farming-related expenses.

Multiple choice social science rural development in india credit and banking in rural areas rural activities credit

Which of the following organisations/banks has done a commendable work in the field of micro-finance and was awarded Nobel Prize also in the past?

  1. Grameen Bank of Bangladesh

  2. CRY

  3. ASHA

  4. NABARD
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Grameen Bank of Bangladesh, founded by Muhammad Yunus, pioneered the micro-finance model and was awarded the Nobel Peace Prize in 2006 for its efforts in poverty reduction.

Multiple choice social science rural development in india credit and banking in rural areas rural activities credit

Which of the following nations is considered the originator of the concept of Micro-Finance?

  1. India

  2. Bangladesh

  3. South Africa

  4. USA
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Grameen Bank, which is  the first modern micro- credit institution, was founded in 1983 by Muhammad Yunus from Bangladesh. Yunus began the project in a small town called Jobra, using his own money to give small loans at low-interest rates to the poor in rural areas.

Multiple choice social science rural development in india credit and banking in rural areas rural activities credit

What is NABARD'S primary aim?

  1. To provide term loans to state co-operative

  2. To assist state governments for share capital contribution

  3. To act as refinance institution

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

NABARD is an apex development bank in India that performs multiple roles, including providing refinance to banks, assisting state governments, and providing direct loans. Since all listed options are valid functions or aims of NABARD, 'All of the above' is the correct choice.

Multiple choice social science rural development in india credit and banking in rural areas rural activities credit

Which of the following is not one of the major functions of the National Bank for Agricultural and Rural Development (NABARD)?

  1. Acting as a regulator for cooperative banks and RRBs.

  2. Extending assistance to the government and others in matters related to rural development

  3. Providing refinance to lending institutions in rural areas

  4. Review of monetary and credit policy
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

NABARD is a development bank and a regulator for rural financial institutions, but it does not review the monetary and credit policy of the country. That is the primary responsibility of the Reserve Bank of India (RBI).

Multiple choice social science rural development in india credit and banking in rural areas rural activities credit

As per the news published in various newspapers, loans to MSEs by rural banks will be treated as priority sector loans. What is the full form of MSE?

  1. Multi Service Enterprises

  2. Micro Software Enterprises

  3. Micro and Small Enterprises

  4. Mutual funds and Service Entities
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In the context of Indian banking and government policy, MSE stands for Micro and Small Enterprises. This term is widely used in the classification of priority sector lending.